Tuesday afternoon, the team officially announced that they have agreed to a one-year contract with the 32-year-old wide receiver, who spent 2013 out of the NFL despite posting respectable numbers the year before.

With the deal, Lloyd rejoins the team that gave him his first shot in the NFL as a fourth-round pick out of Illinois in the 2003 NFL draft. During his first stint with the 49ers from 2003-05, Lloyd recorded 105 receptions for 1,510 yards and 13 touchdowns. His best year with the team came in 2005, when he led the 49ers in receptions, receiving yards and receiving touchdowns. Lloyd led the league in receiving yards in 2010 while with the Broncos, finishing with 1,448 yards and 11 touchdowns.

In his most recent season in the league, with the New England Patriots in 2012, Lloyd was able to haul in 74 receptions for 911 yards and four touchdowns.

Lloyd will provide the 49ers with depth on the outside, but he will have to settle for a reserve role with Michael Crabtree and Anquan Boldin slotted as the team's starters. If San Francisco selects a receiver early in the 2014 draft, Lloyd could be pushed for a roster spot in training camp.